Does more dunning necessarily mean lower DSO? Do past-due notices always result in payments? How many of the customers your team calls today would have paid even without an email?
The stakes are always high for the collections teams – and under pressure to deliver on expectations collectors often reach out without a ‘full-picture’ view of each and every customer. With 100s of customers assigned to each collector, a complete picture for each customer might seem like an unrealistic expectation. However, this ‘spray and pray’ approach results in sub-optimal collector actions – where critical accounts are neglected and customer experience is compromised. So what’s the solution?
Data has the answer. Best-in-class collections teams excel in identifying critical data sources across credit-to-cash processes which help them quickly build a 360 degree understanding of each account. This enables prioritization and results in effective dunning.
In this webinar, Elaine Nowak talks about the 7 essential data sources every collector should tap to build an optimally prioritized collector’s worklist. The webinar also focuses on how the technology of the future will make it incredibly easier for collectors to gain a 360-degree view of each customer with a single click – and to ensure that each invoice is paid in time!
HighRadius Collections Software automates and optimizes the credit & collections management process to improve collector efficiency, minimize bad debt write-offs, improve customer relationships, and reduce DSO. It provides a complete set of tools to optimize and automate the credit collections management process and enable the better prioritization of credit collections activities All the information you need (invoices, dispute information, POD, claims, tracking info, etc.) on each case is automatically presented in a collections work-space and is ready for use. Apart from the wide variety of benefits that it has, it also comes with some amazing features like CADE (Collection Agency Data Exchange), collector’s dashboard which has prioritized collections worklist, automated dunning & correspondence, dispute management, centralized tracking of notes, call logs & payment commitments along with cash forecasting functionalities. The result is a more efficient collections team that contributes to enhanced cash flow and reduced DSO.
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We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.
Colleen Zdrojewski
Trusted By 800+ Global Businesses
HighRadius Corporation
2107 CityWest Blvd,
Suite 1100,
Houston, TX 77042
